Net Interest Margin Expansion
The company reported a 12 basis point expansion in net interest margin for the first quarter.
Deposit Growth Achievement
Atlantic Union Bankshares achieved a 2.1% annualized deposit growth in the first quarter.
Noninterest-Bearing Deposits Increase
Noninterest-bearing deposits increased by $194 million, representing 22% of total deposits.
Sandy Spring Acquisition Completion
The acquisition of Sandy Spring was completed ahead of schedule, with the expectation of accelerating cost savings.
Credit Quality and Low Charge-Offs
Credit remained solid with annualized net charge-offs at five basis points and otherwise mild credit trends.
Loan Growth Expected Post-Acquisition
The company expects mid-single-digit loan growth for the year and has a strong pipeline.